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CNBC
Nov 21, 2012 7:00pm EST
. bankruptcy. >> that's right. there's no question as taxpayer bailout coming here. look, the government, obama administration just loves sub prime mortgages. this whole enterprise, this fha, is really a garner to of sub prime mortgages and taxpayers are going to pay big time larry. >> as though we haven't learned anything from $140 billion bailout of fanny and freddy. correct me if i'm wrong, but 40%, roughly, 40% of the loans that they insured just under the last year or two, have been sub prime loans. they haven't learned a thing. >> they haven't learned a thing. or maybe they just don't care. but yes, you're absolutely right. 40% sub prime loans. moreover what it is, is people who have gone through one, sometimes two foreclosures, bankruptcies and have razor thin down payments. for some reason, that i cannot possibly fathom, there is this push to quote unquote demock ra advertise credit. what is wrong with renting? why would someone through two foreclosures be put into a new loan. and what is it going to do for that person? look what happened to minorities with the housing crash. >> is the
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